Keefe, Bruyette & Woods Begins Coverage on CoStar Group (NASDAQ:CSGP)

Keefe, Bruyette & Woods started coverage on shares of CoStar Group (NASDAQ:CSGP) in a research report sent to investors on Tuesday, Briefing.com Automated Import reports. The brokerage issued an outperform rating and a $650.00 price objective on the technology company’s stock.

CSGP has been the subject of a number of other research reports. Citigroup downgraded shares of International Container Terminal Services from a buy rating to a neutral rating in a report on Wednesday, April 24th. Bank of America restated a buy rating and issued a $60.00 target price (up from $55.00) on shares of Western Digital in a research report on Wednesday, April 24th. Zacks Investment Research upgraded shares of Focus Financial Partners from a hold rating to a buy rating and set a $31.00 target price for the company in a research report on Monday, June 24th. BidaskClub upgraded shares of Zumiez from a sell rating to a hold rating in a research report on Saturday, June 22nd. Finally, SunTrust Banks boosted their target price on shares of Polaris Industries to $102.00 and gave the company a hold rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $559.00.

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Shares of CSGP stock opened at $589.31 on Tuesday. The company has a market cap of $21.22 billion, a P/E ratio of 79.64, a price-to-earnings-growth ratio of 3.85 and a beta of 1.34. The business’s 50-day moving average is $542.46. CoStar Group has a 52 week low of $315.85 and a 52 week high of $588.93.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, April 23rd. The technology company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.17 by $0.11. The business had revenue of $328.00 million during the quarter, compared to the consensus estimate of $327.45 million. CoStar Group had a net margin of 21.76% and a return on equity of 10.09%. CoStar Group’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 EPS. As a group, equities research analysts forecast that CoStar Group will post 9 EPS for the current year.

In related news, Director John W. Hill sold 315 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $553.23, for a total transaction of $174,267.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.14% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in CoStar Group by 0.8% in the 1st quarter. BlackRock Inc. now owns 3,086,193 shares of the technology company’s stock valued at $1,439,461,000 after acquiring an additional 24,945 shares during the period. JPMorgan Chase & Co. increased its position in CoStar Group by 4.0% in the 1st quarter. JPMorgan Chase & Co. now owns 581,742 shares of the technology company’s stock valued at $271,335,000 after acquiring an additional 22,555 shares during the period. American Century Companies Inc. increased its position in CoStar Group by 3.8% in the 1st quarter. American Century Companies Inc. now owns 499,624 shares of the technology company’s stock valued at $233,035,000 after acquiring an additional 18,206 shares during the period. Geode Capital Management LLC increased its position in CoStar Group by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 335,302 shares of the technology company’s stock valued at $113,029,000 after acquiring an additional 4,060 shares during the period. Finally, Baillie Gifford & Co. increased its position in CoStar Group by 1.6% in the 1st quarter. Baillie Gifford & Co. now owns 324,889 shares of the technology company’s stock valued at $151,535,000 after acquiring an additional 5,010 shares during the period. Institutional investors and hedge funds own 96.04% of the company’s stock.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.